The existence of technological spillovers implies that:
A) too many resources are invested in research and development.
B) too few resources are invested in research and development.
C) the right amount of resources is invested in research and development.
D) investing in research and development is not a good idea.
Answer: B) too few resources are invested in research and development.
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According to the text, the annual cost to the United States from its anti-dumping policies is equivalent to a deadweight loss of _____ uniform tariff applied across all imports.
a. a 1% b. a 6% c. a 10% d. a 15%
Which of the following is NOT a reason to study economics?
a. To prepare for other careers b. To achieve social change c. To understand the world better d. To reduce taxes on corporations
What replaced the Bretton Woods system?
a. the gold standard b. a pooled currency system c. a free float system d. a managed float system e. fixed exchange rates
The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____
a. 1,000 . 1,800 b. 100; 9,000 c. 50; 500 d. 500; 1,300